Personal Finance

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Personal Finance is an umbrella term covering areas of finance that aren’t business. Generally it covers business-like decisions made by individuals that impacts their net worth over time. This also includes things like insurance, that helps you hedge risks in the future, as well as budgets and tax decisions.

Managing Personal Finances from Beach

One of the most clever lines said was by Dave Ramsey, who focuses on the personal finance decisions of the middle class, reaching them through civic institutions, churches, and other community organizations. He said that personal finance is “20% head knowledge and 80% behavior” – most of us can do the math but building net worth requires actually complying with the math.

One reason that the Profit First System is so highly effective is that it utilizes some of the personal finance tricks people use to make better financial decisions into a small business setting. Regardless of the business entities business structure, owner operated firms often act more like extensions of the household then their own distinct business unit. One of the reasons we separate our accounting packages from the owner-operated set of Starter and Profit First from our Fractional Controller and Fractional CFO Plans is that psychological condition. Larger manager managed firms have decisions made by agents pursuing their own agendas, while owner-operated firms often intersect their personal finance and business goals.

Managing personal and business debts, developing a solid retirement savings strategy, and paying yourself first from your business earnings are all critical decisions made at the business level that impacts the health of your personal finances.

Organizing Business Expenses

By |2023-04-24T13:17:51-04:00April 24th, 2023|Categories: Quickies with Bette|Tags: , , , |

I will discuss how to categorize your business expenses. It can be a struggle to track all your expenses, which is why breaking them down into categories is important. It allows you to see what your funds are being used for and make better business decisions.

Investment Analysis Explained

By |2023-03-31T11:34:40-04:00March 21st, 2023|Categories: Quickies with Bette|Tags: , |

Today I will discuss a little about investment analysis and why it is best for real estate professionals. So, what is it? It's a process that helps evaluate investments, industry trends, and economic cycles; an essential tool for all real estate professionals. It helps them make informed decisions about real estate investments.

Tax Planning Strategies

By |2022-12-16T12:20:42-05:00May 20th, 2022|Categories: Quickies with Bette|Tags: , , , , , |

Today I'm going to tell you what tax planning is and why you need to tax plan if you want to save money on your taxes. The truth is when a client comes to me at the end of the year and has not done any tax planning, there is very little that I can do to help them save money. To avoid this situation, I recommend tax planning to all my clients.

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